The Frankenstein economy: that economic miracle has its darker sides.(South Korea) From: The Economist (US) | Date: June 3, 1995 | COPYRIGHT 1995 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Government control of markets, a relic of the Park Chung Hee era, is a constant deterrent to internationalization and growth. The top four 'chaebol,' conglomerates received massive state aid in the 1970s, and now wield a disproportionate share of economic and political power.

IN POLITICS, South Korea has been trying to undo Park Chung Hee's model since 1987, when military rule gave way to elected governments. In economics, the revolt against Park came straight after his death. But ...

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